(Reuters photo)WASHINGTON -- The International Monetary Fund maintained its world economic growth forecast at 3.5% this year and 3.6% next year, with upward revisions for Japan, China and other Asian emerging markets offsetting a downward projection for the United States. In an update to the World Economic Outlook the IMF published in April, the Washington-based institution revised its forecast for Japan's growth up 0.1 percentage point to 1.3% in 2017, buoyed by first-quarter growth propelled by personal spending, investment and exports. Despite the downward revision to the US economy, IMF chief economist Maurice Obstfeld hailed the steady growth in the world economy, saying the projected global growth rates for 2017 and 2018 are an improvement from 3.2% in 2016. "Recent data point to the broadest synchronized upswing the world economy has experienced in the last decade." He added that world trade growth has also picked up, with volumes projected to grow faster than global output in the next two years.

Source: Bangkok Post July 24, 2017 03:33 UTC